e.l.f. Beauty (NYSE:ELF) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

e.l.f. Beauty (NYSE:ELFGet Rating) issued its earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07, MarketWatch Earnings reports. The firm had revenue of $105.14 million for the quarter, compared to analysts’ expectations of $91.22 million. e.l.f. Beauty had a net margin of 5.32% and a return on equity of 10.77%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. e.l.f. Beauty updated its FY 2023 guidance to $0.78-$0.81 EPS and its FY23 guidance to $0.78-0.81 EPS.

NYSE:ELF traded up $0.91 during midday trading on Friday, reaching $25.54. The stock had a trading volume of 3,515 shares, compared to its average volume of 466,179. The firm has a fifty day simple moving average of $24.40 and a two-hundred day simple moving average of $27.47. e.l.f. Beauty has a 12-month low of $20.49 and a 12-month high of $33.63. The company has a quick ratio of 1.60, a current ratio of 2.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.33 billion, a P/E ratio of 64.82 and a beta of 1.91.

In related news, SVP Joshua Allen Franks sold 8,094 shares of e.l.f. Beauty stock in a transaction on Monday, March 7th. The shares were sold at an average price of $25.81, for a total value of $208,906.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott Milsten sold 25,027 shares of e.l.f. Beauty stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $25.47, for a total transaction of $637,437.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,294 shares of company stock worth $3,067,775. 11.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of e.l.f. Beauty by 0.9% during the 1st quarter. BlackRock Inc. now owns 7,287,057 shares of the company’s stock worth $188,224,000 after purchasing an additional 67,611 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of e.l.f. Beauty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,488,985 shares of the company’s stock worth $141,780,000 after purchasing an additional 136,521 shares in the last quarter. State Street Corp raised its stake in shares of e.l.f. Beauty by 5.3% during the 1st quarter. State Street Corp now owns 1,525,830 shares of the company’s stock worth $39,412,000 after buying an additional 76,369 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of e.l.f. Beauty by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,100,141 shares of the company’s stock worth $28,417,000 after buying an additional 22,309 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of e.l.f. Beauty by 4.7% during the 1st quarter. Renaissance Technologies LLC now owns 945,900 shares of the company’s stock worth $24,433,000 after buying an additional 42,400 shares during the last quarter. Institutional investors own 90.95% of the company’s stock.

Several analysts recently weighed in on the stock. Raymond James reduced their target price on shares of e.l.f. Beauty from $33.00 to $27.00 in a report on Thursday. Zacks Investment Research cut shares of e.l.f. Beauty from a “hold” rating to a “sell” rating in a report on Thursday, January 27th. DA Davidson lifted their target price on shares of e.l.f. Beauty from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their target price on shares of e.l.f. Beauty from $38.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, March 30th. Finally, Piper Sandler cut their target price on shares of e.l.f. Beauty from $29.00 to $24.00 in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.00.

About e.l.f. Beauty (Get Rating)

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f., W3LL PEOPLE, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States; and internationally primarily through distributors.

See Also

Earnings History for e.l.f. Beauty (NYSE:ELF)

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